Salient MLP fund prices public offering

Salient MLP & Energy Infrastructure Fund (NYSE: SMF) said it has priced a secondary public offering of common shares at $27.55 per share.

The Houston energy fund said in a March 21 statement underwriters have a 30-day option to purchase up to 135,000 common shares to cover overallotments.

The fund will use its net proceeds from the public offering, estimated to be about $24.79 million, to make more portfolio investments. The fund, which is managed by Houston-based investment adviser Salient Capital Advisers LLC, said the offering is scheduled to close March 26.

The fund aims to pump money into energy infrastructure companies that have acquired midstream and other energy assets, and to get a return to shareholders, especially through quarterly cash dividends.

The fund paid out a dividend of $0.455 per common share on Feb. 28, up from a quarterly dividend of $0.447 per common share on Dec. 3, according to regulatory filings with the U.S. Securities and Exchange Commission.